Weyerhaeuser shareholders offered Domtar Corp. shares under exchange offer

By Lisa Kerner

Charlotte, N.C., Feb. 2 - Weyerhaeuser Co. said it began an offer under which shareholders may exchange some or all of their common shares of Weyerhaeuser and exchangeable shares of Weyerhaeuser Co. Ltd. for shares of Domtar Corp.

The offer ends at midnight ET on March 2.

Domtar Inc. and Weyerhaeuser announced a definitive agreement on Aug. 22 to combine Weyerhaeuser's fine paper business with Domtar to form Domtar Corp.

The exchange offer will give Weyerhaeuser shareholders roughly $1.11 worth of Domtar Corp. common stock, limited to 11.142 shares, for each $1 of Weyerhaeuser shares tendered in the exchange.

Weyerhaeuser, a forest products company based in Federal Way, Wash., expects some 281 million shares of Domtar Corp. common stock to be offered in exchange for Weyerhaeuser shares.

Domtar, Inc. is a Montreal-based manufacturer of uncoated freesheet paper.

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